Dai ichi Life Insurance Company Ltd cut its holdings in The Allstate Corporation (NYSE:ALL – Free Report) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,173 shares of the insurance provider’s stock after selling 3,637 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Allstate were worth $8,744,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Allstate by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock valued at $112,533,000 after acquiring an additional 26,586 shares during the last quarter. Mezzasalma Advisors LLC increased its position in Allstate by 58.6% in the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock worth $4,875,000 after purchasing an additional 8,837 shares during the last quarter. Meyer Handelman Co. increased its holdings in Allstate by 4.8% in the fourth quarter. Meyer Handelman Co. now owns 206,787 shares of the insurance provider’s stock worth $43,043,000 after buying an additional 9,438 shares during the last quarter. OFI Invest Asset Management bought a new position in Allstate during the fourth quarter valued at approximately $23,074,000. Finally, Strategic Global Advisors LLC raised its position in Allstate by 19.2% during the fourth quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider’s stock valued at $10,175,000 after acquiring an additional 7,870 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Allstate
In other news, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,353 shares of company stock worth $4,851,560 in the last ninety days. 1.55% of the stock is currently owned by insiders.
Allstate Price Performance
Allstate (NYSE:ALL – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the business posted $3.53 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts predict that The Allstate Corporation will post 30.51 earnings per share for the current year.
Allstate Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio is presently 9.53%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald raised their price target on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Barclays increased their target price on shares of Allstate from $203.00 to $213.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Citigroup raised their target price on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Finally, HSBC downgraded Allstate from a “buy” rating to a “hold” rating and upped their price target for the stock from $244.00 to $264.00 in a research note on Monday, July 6th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average price target of $254.80.
Read Our Latest Stock Analysis on Allstate
Allstate Profile
Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.
The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.
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